And Now For Your Daily Dose Of Morning Sunshine With Marc Faber

Tyler Durden's picture




 

Just because it has been a while since the ponytailed Swiss pundit's cheerfulness graced these pages, here is a reminder that things can always be worse:

  • FABER: `I'M HYPER BEARISH, SOMETIMES WANT TO JUMP OUT WINDOW'
  • FABER: `PLACE FOR KEYNESIANS IS NORTH KOREA'

It goes on:

  • FABER: GOLD WOULD STILL HAVE VALUE IN WORST-CASE SCENARIO
  • FABER: `I ADVISE EVERYONE TO HAVE SOME GOLD'
  • FABER: VERY CONCERNED ABOUT LARGE SIZE OF DERIVATIVES MARKETS
  • FABER: SOME VALUE IN EASTERN EUROPE, BULGARIA, UKRAINE
  • FABER: PRINTING MONEY WON'T HAVE EQUAL EFFECT ON ALL PRICES
  • FABER: MAY SEE FLIGHT TO EQUITIES AWAY FROM CASH AND BONDS

Dr. Gloom, Boom and Doom: consistent to the very end.

Source: BBG

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Tue, 01/22/2013 - 09:37 | 3175131 GetZeeGold
GetZeeGold's picture

 

 

Thank goodness Faber is here......I was starting to get depressed.

Tue, 01/22/2013 - 09:39 | 3175137 tsx500
tsx500's picture

I love the smell of doom in the morning .....

Tue, 01/22/2013 - 09:53 | 3175166 falak pema
falak pema's picture

I prefer to sleep in a clean bed! With a sexy Ukranian girl who shows me her breasts and does not want to kick me in the nuts! 

Just playing at WB7s fatal fantasy... 

Tue, 01/22/2013 - 10:11 | 3175206 GMadScientist
GMadScientist's picture

But you'll settle for...

Tue, 01/22/2013 - 10:53 | 3175332 Janice
Janice's picture

A sleeping bag and a blow up doll?

Tue, 01/22/2013 - 11:04 | 3175372 Beam Me Up Scotty
Beam Me Up Scotty's picture

Maybe a Kleenex box and a tube of KY.

Tue, 01/22/2013 - 10:14 | 3175216 geno-econ
geno-econ's picture

So did Col. Kadafi ,former leader of Libya and look where it got him, although she was strictly his nurse and Monica was just an intern 

Tue, 01/22/2013 - 09:55 | 3175171 Lohn Jocke
Lohn Jocke's picture

I can't smell anything over the reek of hopium.

Ironic that on a day comemorating a martyrn for civil liberties we inaugurate a tyrant who crushes civil liberties.

Tue, 01/22/2013 - 10:05 | 3175190 Terp
Terp's picture

"a martyrn for civil liberties"

 

Thanks for the laugh.

Tue, 01/22/2013 - 10:44 | 3175310 ATM
ATM's picture

No shit. Somebody really bought into the the St. MLK myth. 

Tue, 01/22/2013 - 12:08 | 3175611 NoTTD
NoTTD's picture

Maybe he mean tot say a "marten for civil liberties".  Weasels don't get enough good publicity.

Tue, 01/22/2013 - 10:12 | 3175210 kridkrid
kridkrid's picture

The layers of irony are almost too much. I like the juxtaposition of "King" day and the inauguration for an office that is increasingly king-like.

Tue, 01/22/2013 - 10:26 | 3175246 Stoploss
Stoploss's picture

Why yes he is the tyrant the Constitution speaks of.

The American spring will be quite the train wreck.

Tue, 01/22/2013 - 10:26 | 3175236 WhiteNight123129
WhiteNight123129's picture

Short Treasuries Bitchez.

The lower cracking Treasuries market is the mother of all resetting event.

The Treasuries market is the kingpin of all Financial assets.

BUT NOT OF REAL ASSETS which are not subject to the discounting mechanism.

GOld has no ~present discounted value~. When the kingpin is rotten for finanical assets. Sell-off in the kingpin means contagion to all the other financial assets. BUt NOT to real assets. 

So the dicsount mechanism is bogus, if hte long bond goes to 5%, inflation will have to explode in order ot maintain the real rate negative and avoid a hard bankruptcy for the US Gov. PE multiples will contact massively.

 

The Fed has engineered a bubble in Equities than a bubble in commercial credit and has now moved up the bad credit on its balance sheet and on the Sovereign. So instead of having a crisis at the periphery mnarkets (benign equity in 2000), quite serious in 2008 in coimmercial and credit, now the system risk is on the heart on the system itself, the Treasuries market. The kingpin of the whole architecture...

 

SHort Treasuries, Long Gold Bitchez.

 

Tue, 01/22/2013 - 15:16 | 3176368 Panafrican Funk...
Panafrican Funktron Robot's picture

"SHort Treasuries, Long Gold Bitchez."

Agree with long gold, if you mean physical gold stored in your personal possession.

Short treasuries I don't agree with, simply because the Fed is defending that paper-denominated, nominally priced "asset" with unlimited paper.  The Fed could hold $16 trillion in reserves if that's what it takes to defend treasuries from any meaningful pullback.  It will own 100% of the treasury market if necessary. 

Tue, 01/22/2013 - 09:48 | 3175152 CPL
CPL's picture

He certainly is the blue bird of happiness.

 

So the market is about to shit the bed again?  Or will it print?

Tue, 01/22/2013 - 09:53 | 3175167 Oh regional Indian
Oh regional Indian's picture

Methinks it will Shit the Bed in the dark while printing in the light.

Ying and Yang y'know. Some dark pools and some pools of liquidity light.

ori

http://aadivaahan.wordpress.com/2013/01/20/two-hammer-blows-and-a-random...

Tue, 01/22/2013 - 11:34 | 3175464 Lewshine
Lewshine's picture

BWAHAHAHAHAHA....Phil Mickelson just got a Whiff of Jif on Obama's new tyrannical tax policies - And is going public on a move of residence somewhere out of the country. Yeah! Obama, the smiling oligarch who protects and funds the banks with taxpayer dollars, while claiming his commitment to the little guy, to a public who hasn't the time to know the difference between their left hand and their right. You ain't seen nothing yet, PHIL!!! "Obama inaugural speech proclaims aggressive policies yet to come"....Because Heath care, Guns and Taxes weren't enuf! BWAHAHAHAHAHAHAHAHAHA!!!!

Tue, 01/22/2013 - 10:53 | 3175136 Frozen IcQb
Frozen IcQb's picture

Don't underestimate the powers of the dark side.

Tue, 01/22/2013 - 12:24 | 3175677 AGuy
AGuy's picture

Don't underestimate the powers of the keynesian side!

Tue, 01/22/2013 - 09:40 | 3175139 fonzannoon
fonzannoon's picture

"MAY SEE FLIGHT TO EQUITIES AWAY FROM CASH AND BONDS"

Yes yes everything is coming apart at the seams. Honey is the gas tank full and the bunker stocked and do we get wifi in the bunker so I can follow our stock portfolio?

My guess is they won't let Faber on the air unless he throws the msm at least one bone.

Tue, 01/22/2013 - 09:43 | 3175145 LawsofPhysics
LawsofPhysics's picture

Indeed.  "The currencies are dying so let's all buy stocks." - FAIL

Tue, 01/22/2013 - 09:51 | 3175161 CPL
CPL's picture

Yes...because Equities payable in US or any paper currency won't have the huge and horrible problems as the currency it's based in.

 

Because the following statements must be also true.

  • the pee in the pool stays in the shallow end.  
  • The fart under the covers stays there. .
Tue, 01/22/2013 - 10:04 | 3175184 Oh regional Indian
Oh regional Indian's picture

What if the equity market is the fifth leg to the Gold/Oil/Dollar/Drug complex.

Say that because unlike 10-15 years ago, where global stocks were not fully coupled, now, it's like a chain reaction following the Sun Line at 9AM. All together.

With enough over-lap to allw some good old and new fashioned manipulation. The Indian market, as an example, is like a marionette to the string of Dollar in/out flow via various Off-shore island based entitie/funds (called Foreign Institutional Investors or FIIs here).

ori

Tue, 01/22/2013 - 10:24 | 3175235 CPL
CPL's picture

We usually call it the Grand Cayman's.  Which is right now having severe problems obtaining the coal and diesel to power the island.  No power = there really is 'no' money in the Cayman's.  So don't sweat the squirreling of profits in small, poorly managed islands.  Anyone that believed they were safe havens are soon going to wish they'd never heard of an offshore account.

 

When the bank's lights go out, all their money goes away.  Poof!  Gone.  Here's the insane thing, the back ups to all those bank data centers are on another Island like Barbadoes.  Which is also having a horrible energy availability problem.

 

There is simply no where to run but PM's.  It's one of the reason the India government is getting so very weird with gold sales.  Processed gold sales.  You can still buy tonnes of ewaste with a government rebate there to open a reclaimation center. 

 

How the hell are you ORI?  Happy new year.

Tue, 01/22/2013 - 11:13 | 3175400 fijisailor
fijisailor's picture

Uh I worked for Caribbean Utilities company on Grand Cayman for 2 years.  Yea they have a coal shortage because they don't use any coal.  Better check your references again.

Tue, 01/22/2013 - 11:27 | 3175441 WakeUpPeeeeeople
WakeUpPeeeeeople's picture

Most islands no steam generation, just a lot of low rpm, diesel powered generators. Now I know why i got such a good deal on that hotel room. Those generators make a lot of noise.

Tue, 01/22/2013 - 12:28 | 3175603 CPL
CPL's picture

What are you talking about? 

http://www.eia.gov/countries/country-data.cfm?fips=CJ

If you need parts for a coal fired plant in the Cayman's you can buy the equipment from these guys.

http://www.environmental-expert.com/companies/keyword-coal-fired-power-p...

If you need to talk to one of the senior engineers of the power production facilities in the Caribbean AND the state of supply.

www.linkedin.com/pub/brad-clark/30/1a/275

 

But you know, it's not up to me to prepare for a shadow bank collapse.  I don't use the services.  The people that do however are in for a rude surprise.  Wishing it is not so, does not make it true does it? 

Prepare, don't panic.

                 
Tue, 01/22/2013 - 11:18 | 3175414 Oh regional Indian
Oh regional Indian's picture

Good points CPL. 0s and 1s live on power. THey will die without. Perhaps that is why the powers that beworship the SUn so much. :-)

I'm well and have decided to dive back into the middle of "Things" as it were, the bull, the horns, all of it.

Hope you are well too. 2013 is going to be a heck of a year. Also ponder how easily we've moved one beyond 12/21/2012... just like that.  Strange eh?

Tue, 01/22/2013 - 12:13 | 3175636 CPL
CPL's picture

Felt like a chapter finishing to set the stage and now the next couple of chapters are going to be very exciting.

It's going to get so much weirder.  I couldn't name a bank employee that is trained in the art of the Clerk anymore.  It's all terminals now, brainless, type in an account number and some referencial shit and you obtain information. 

Could you imagine trying to sort out the paper mess, most clients would have no choice but to hire really expensive professional services to attempt to dig their paper work out of a powered down bank.  All the mean while their currency is valued in whatever fiat and losing steam fast against the costs passed on by the professional services and getting eaten ass up by inflation.  The world is not ready for a power down, applications replaced talent and skill a couple of decades ago in North America and Europe.

 

 

Tue, 01/22/2013 - 10:05 | 3175188 Proofreder
Proofreder's picture

LMAO !!

Faber does a fine job of setting the scene for a roller coaster ride to 33,000 on the Dow as Everyman tries to play catch up.

I mean, what the heck, Dow is going up faster than food or gasoline.  Still $7 a trade at Scott, and some places offer free trades - an opportunity to win big lose everything from your kitchen table.  Maybe the Penny Stocks.  What the H, let's do Options.

Seemed like such a good idea in 1999.

Wed, 01/23/2013 - 09:42 | 3178532 Donnie Duvanie
Donnie Duvanie's picture

Um... Penny stocks, no thanks.

Tue, 01/22/2013 - 10:34 | 3175280 agNau
agNau's picture

Alas the basement of DTCC pumped dry, and all those certificates found to be in excellent condition. Rally on!

Tue, 01/22/2013 - 09:43 | 3175141 tooriskytoinvest
tooriskytoinvest's picture

PREPARE For 90% Correction? Currency War Escalating But Inflationary Targets Will Fail – World Stuck In Deflationary Super-Cycle And There’s A “Financial Catastrophe On The Horizon

http://investmentwatchblog.com/prepare-for-90-correction-currency-war-escalating-but-inflationary-targets-will-fail-world-stuck-in-deflationary-super-cycle-and-theres-a-financial-catastrophe-on-the-hori/

 

Tue, 01/22/2013 - 09:46 | 3175150 LawsofPhysics
LawsofPhysics's picture

"On the horizan?"  - FAIL.

Tue, 01/22/2013 - 09:50 | 3175160 Stoploss
Stoploss's picture

Yep, the inflationists, they are a struggling.

Deflation is the most powerful financial force, that point has been driven home again and again. And again and again and again....

Tue, 01/22/2013 - 09:54 | 3175170 LawsofPhysics
LawsofPhysics's picture

The "flation" debate is pointless as essential goods and services become "priceless" and all the plastic useless crap and paper promises go "bidless".

All fiat currencies are dying.  Tell me, what's the "price" of something I won't sell or the "price" of something no one wants?

Morons. 

Tue, 01/22/2013 - 10:07 | 3175195 BandGap
BandGap's picture

Correct-a-mundo. Inflation for food and essential goods, deflation for bigscreen TVs and iPhones.

Tue, 01/22/2013 - 10:23 | 3175240 kridkrid
kridkrid's picture

Inflation in the things you need, deflation in the things you own... To include your income, most likely. Layer on top of that, increased taxation, both directly and in fees, and a reduction in services which require additional spending on your part. It's a vice, and they will squeeze every last drop before it is over.

Tue, 01/22/2013 - 10:25 | 3175245 LawsofPhysics
LawsofPhysics's picture

Let them squeeze.  My physical assets, and PMs in particular, remain very much intact.  So does my tribe.

Tue, 01/22/2013 - 12:25 | 3175680 Calmyourself
Calmyourself's picture

Wait until they assess a 20 bushel per acre fee, you'll squeal like the rest of us..

Tue, 01/22/2013 - 15:27 | 3176411 Panafrican Funk...
Panafrican Funktron Robot's picture

Keep in mind, if it exists within the reach of the U.S. Government, it's not really yours.  Setting aside international "acquisitions", please note that the land you own is property of the U.S. Government.  The gold you own is property of the U.S. Government.  Your tribe is the only thing you actually have that's yours.  You own your mind and your connections with other minds.  The rest is yours only because you are allowed to possess it.  That's a real mind fuck for most of us, especially those of us who have been hard at work preparing, but just an inconvenient reminder to us all that the concept of "fiat" extends beyond the FRN.  They have real motherfucking weapons of death that they will not hesitate to use, and you are not in a position to defend yourself from those weapons.  It would be suicidal to do so, in fact.  

Tue, 01/22/2013 - 10:34 | 3175254 Peachfuzz
Peachfuzz's picture

+1000 that's why instead of the pm's everybody is carrying on about, I took my own investment route. I went long toilet paper. After I read this account from bosnia and what they went through over there. Those folks would've given their 1st born for a roll.

While everyone is burning benny bucks to stay warm, they can give me their silver for shit paper. muhahaha ;)

Tue, 01/22/2013 - 10:11 | 3175205 Frozen IcQb
Frozen IcQb's picture

Stoploss- true but deflation will invariably follow hyperinflation which itself occurs at the trough of an economic depression.

Tue, 01/22/2013 - 11:24 | 3175408 xtop23
xtop23's picture

"Human sacrifice, dogs and cats living together, mass hysteria!"

Marc's right of course. It's going to be like watching a bullet train in Japan though. It's far away, still far, hrmmm seems a little closer, then all of a sudden you feel the concussion of wind and it's already blown by you at 200+.

Tue, 01/22/2013 - 09:43 | 3175142 Snakeeyes
Snakeeyes's picture

I was already depressed about writing on the last four year on the US economy under Obama. 

http://confoundedinterest.wordpress.com/2013/01/21/the-last-four-years-o...

Tue, 01/22/2013 - 09:53 | 3175165 ZeroAvatar
ZeroAvatar's picture

Maybe a little extra blog traffic from spamming at ZH will cheer you up.

Tue, 01/22/2013 - 09:46 | 3175147 MFLTucson
MFLTucson's picture

Ukraine is a beautiful country but corrupt beyond words and is already experiencing hyperinflation do to the conversion of the Hyriva currency that is accepted in no other country.  I see nothing in Ukraine that is any different then Belarus that devalued its currency by 50% last year.  Sorry Marc, you simply do not know this country like I do and you are wrong.  It is a political and social mess.  The farmland is the best in all of Europe but already controlled by large American manufactures like Monsanto and Pioneer seeds.  Ukraine will be a great country in 20 years by expect any investment made will be taken by Putin as soon as they start to rise; he controls all of their energy.  Better to invest in Belize, Guatemala, Panama and other Latin countries because of the flight from the US in the next 3 to 5 years.

Tue, 01/22/2013 - 09:53 | 3175164 Bold Eagle
Bold Eagle's picture

I agree 100% with you regarding Ukraine. Communist president+energy dependency from Russia=FAIL.

Tue, 01/22/2013 - 10:05 | 3175185 AlaricBalth
AlaricBalth's picture

Agree with you on Belize and Panama. But Guatemala? Hell, if I buy 7 bananas and a dugong I control the whole economy.
But seriously, why Guatemala? Coffee? Sugar? Petroleum? Or "alternative" exports?

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